BOSTON, July 13, 2012 /PRNewswire/ -- Eaton Vance
Floating-Rate Income Trust (NYSE: EFT) (the "Fund"), a closed-end
management investment company, today announced the earnings of the
Fund for the three months and the fiscal year ended May 31, 2012.
For the three months ended May 31,
2012, the Fund had net investment income of $9,961,955 ($0.265
per common share). From this amount, the Fund paid dividends
on preferred shares of $300,521
(equal to $0.008 for each common
share), resulting in net investment income after the preferred
dividends of $9,661,434 or
$0.257 per common share. For
the year ended May 31, 2012, the Fund
had net investment income of $38,772,685 ($1.034
per common share). From this amount, the Fund paid dividends
on preferred shares of $1,186,482
(equal to $0.032 for each common
share), resulting in net investment income after the preferred
dividends of $37,586,203 or
$1.002 per common share. In
comparison, for the three months ended May
31, 2011, the Fund had net investment income of $9,357,579 ($0.249
per common share). From this amount, the Fund paid dividends
on preferred shares of $299,838
(equal to $0.008 for each common
share), resulting in net investment income after the preferred
dividends of $9,057,741 or
$0.241 per common share. For
the year ended May 31, 2011, the Fund
had net investment income of $37,113,803 ($0.991
per common share). From this amount, the Fund paid dividends
on preferred shares of $1,225,305
(equal to $0.033 for each common
share), resulting in net investment income after the preferred
dividends of $35,888,498 or
$0.958 per common share.
Net realized and unrealized losses for the three months ended
May 31, 2012 were $2,933,936 ($0.084
per common share). The Fund's net realized and unrealized
losses for the year ended May 31,
2012 were $13,578,032
($0.368 per common share). In
comparison, net realized and unrealized losses for the three months
ended May 31, 2011 were $2,500,037 ($0.064
per common share). The Fund's net realized and unrealized gains for
the year ended May 31, 2011 were
$40,409,778 ($1.082 per common share).
On May 31, 2012, net assets of the
Fund applicable to common shares were $582,010,790. The net asset value per
common share on May 31, 2012 was
$15.51 based on 37,512,921 common
shares outstanding. In comparison, on May 31, 2011, net assets of the Fund applicable
to common shares were $595,889,843. The net asset value per
common share on May 31, 2011 was
$15.90 based on 37,480,847 common
shares outstanding.
The Fund periodically makes certain performance data and
information about portfolio characteristics available on
www.eatonvance.com (on the fund information page under "Individual
Investors – Closed-End Funds"). Fund portfolio holdings for the
most recent month-end are also posted to the website approximately
30 days following month-end.
The Fund is managed by Eaton Vance Management, a subsidiary of
Eaton Vance Corp. (NYSE: EV), based in Boston, one of the oldest investment
management firms in the United
States, with a history dating back to 1924. Eaton Vance and
its affiliates managed $192.3 billion
in assets as of June 30, 2012,
offering individuals and institutions a broad array of investment
strategies and wealth management solutions. The Company's
long record of providing exemplary service and attractive returns
through a variety of market conditions has made Eaton Vance the
investment manager of choice for many of today's most discerning
investors. For more information about Eaton Vance, visit
www.eatonvance.com.
EATON
VANCE FLOATING-RATE INCOME TRUST
|
SUMMARY
OF RESULTS OF OPERATIONS
|
(in
thousands, except per share amounts)
|
|
|
|
|
|
|
|
|
|
Three
Months Ended
|
|
Year
Ended
|
|
May
31,
|
|
May
31,
|
|
2012
|
|
2011
|
|
2012
|
|
2011
|
Gross
investment income
|
$12,748
|
|
$12,002
|
|
$49,479
|
|
$47,887
|
Operating
expenses
|
(1,921)
|
|
(1,775)
|
|
(7,351)
|
|
(7,001)
|
Interest
expense
|
(865)
|
|
(869)
|
|
(3,355)
|
|
(3,772)
|
Net
investment income
|
$9,962
|
|
$9,358
|
|
$38,773
|
|
$37,114
|
Net
realized and unrealized gains (losses)
|
|
|
|
|
|
|
|
on
investments
|
($2,934)
|
|
($2,500)
|
|
($13,578)
|
|
$40,410
|
Preferred
dividends paid from net investment income
|
(301)
|
|
(300)
|
|
(1,186)
|
|
(1,225)
|
Net
increase (decrease) in net assets
|
|
|
|
|
|
|
|
from
operations
|
$6,727
|
|
$6,558
|
|
$24,009
|
|
$76,299
|
|
|
|
|
|
|
|
|
Earnings
per Common Share Outstanding
|
|
|
|
|
|
|
|
Gross
investment income
|
$0.340
|
|
$0.320
|
|
$1.320
|
|
$1.279
|
Operating
expenses
|
(0.051)
|
|
(0.047)
|
|
(0.196)
|
|
(0.187)
|
Interest
expense
|
(0.024)
|
|
(0.024)
|
|
(0.090)
|
|
(0.101)
|
Net
investment income
|
$0.265
|
|
$0.249
|
|
$1.034
|
|
$0.991
|
Net
realized and unrealized gains (losses)
|
|
|
|
|
|
|
|
on
investments
|
($0.084)
|
|
($0.064)
|
|
($0.368)
|
|
$1.082
|
Preferred
dividends paid from net investment income
|
(0.008)
|
|
(0.008)
|
|
(0.032)
|
|
(0.033)
|
Net
increase (decrease) in net assets
|
|
|
|
|
|
|
|
from
operations
|
$0.173
|
|
$0.177
|
|
$0.634
|
|
$2.040
|
|
|
|
|
|
|
|
|
Net
investment income
|
$0.265
|
|
$0.249
|
|
$1.034
|
|
$0.991
|
Preferred
dividends paid from net investment income
|
(0.008)
|
|
(0.008)
|
|
(0.032)
|
|
(0.033)
|
Net
investment income after preferred dividends
|
$0.257
|
|
$0.241
|
|
$1.002
|
|
$0.958
|
|
|
|
|
|
|
|
|
Net Asset
Value at May 31 (Common Share)
|
|
|
|
|
|
|
|
Net assets
(000)
|
|
|
|
|
$582,011
|
|
$595,890
|
Shares
outstanding (000)
|
|
|
|
|
37,513
|
|
37,481
|
Net asset
value per share outstanding
|
|
|
|
|
$15.51
|
|
$15.90
|
|
|
|
|
|
|
|
|
Market
Value Summary (Common Share)
|
|
|
|
|
|
|
|
Market
price on NYSE at May 31
|
|
|
|
|
$15.79
|
|
$16.39
|
High
market price (year ended May 31)
|
|
|
|
|
$16.69
|
|
$17.50
|
Low market
price (year ended May 31)
|
|
|
|
|
$13.47
|
|
$14.31
|
|
SOURCE Eaton Vance Management